SaaS firm Capillary Technologies has mobilised Rs 393.7 crore from 21 anchor investors at the upper price band of Rs 577 per share, a day before its initial public offering (IPO) opens for subscription on November 14. The company allotted 68,28,001 equity shares to anchor investors, according to its filing with the stock exchanges.
Two-Thirds of Allocation Goes to Domestic Mutual Funds
A significant portion of the anchor book was driven by domestic institutions. Capillary allotted 46.1 lakh shares (67.52%) to nine domestic mutual funds across 13 schemes, raising Rs 266 crore. Major participants included SBI Mutual Fund, ICICI Prudential MF, Kotak MF, Axis MF, Aditya Birla MF, and Edelweiss MF. Global investors such as Amundi Funds, Matthews India Fund, HSBC Global Investment Funds – Asia Ex Japan Smaller Companies, PineBridge India Equity Fund, Hornbill Orchid, and Innoven Capital also participated.
IPO Structure and Lead Managers
The company has revised the size of its IPO in the Red Herring Prospectus (RHP). The fresh issue has been lowered to Rs 345 crore from the earlier Rs 430 crore, while the offer-for-sale (OFS) has been trimmed to 92.2 lakh shares, down from 1.83 crore shares proposed initially. JM Financial, IIFL Capital, and Nomura are acting as book-running lead managers, with MUFG Intime serving as registrar.
Capillary’s Business and Financial Growth
Founded in 2008 by Aneesh Reddy, Krishna Mehra, and Ajay Modani, Capillary Technologies offers cloud-native CRM, loyalty, and customer engagement solutions to over 390 global brands across 46 countries, including Tata Digital, Aditya Birla Fashion, and Abbott Labs.
In FY25, the company recorded 14% year-on-year revenue growth, touching Rs 598 crore, and posted a net profit of Rs 14.1 crore, marking a turnaround from the Rs 68 crore loss reported in FY24.
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